The Aussie is teasing traders near the critical 0.9300 handle after prices bounced off support near 0.9210, which resulted in a Hammer formation on the daily. While considered a reversal formation, we likely need to clear 0.9300 before the bulls look to firm their grip on prices.
AUD/USD: Keeps Traders In Suspense Sub 0.9300
The significance of the 0.9300 handle is made further evident by an examination of intraday price action, with several long wicks forming near the critical level. A Bearish Engulfing formation suggests sellers are still intent on keeping pressure on the currency.
AUD/USD: Coiled Like
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